Newfield Exploration Sets 2013 Capital Budget of At Least $1.7 Billion

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Newfield Exploration Co. ( NFX ) said that for 2013, it plans to invest $1.7 billion to $1.9 billion (excludes capitalized interest and overhead), with the entire budget substantially allocated to liquids plays. Total company production is expected to range from 44 million to 47 million BOE.

The company expects that its 2013 domestic liquids production will increase more than 35%. Natural gas volumes are expected to decline about 14% from 2012 levels.

NFX was down 4% to $31 in the after-hours market.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: NFX

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